https://www.taxtmi.com/circulars?id=52714 Reversal of Input Tax Credit is required where a credit or debit note changes the tax credit claimed by a purchaser for Delhi sales/purchases; purchasers must adjust ITC in the period the note is issued. Credit notes arising from post sale discounts, returns, rate/quantity variation, consideration for facilities, or expense reimbursements trigger purchaser ITC reduction; cash discounts for early payment are excluded from output tax adjustment and need not be reported or lead to ITC reversal. en-us Thu, 19 Dec 2013 00:00:00 +0530 Sat, 01 Mar 2014 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52714 Reversal of Input Tax Credit is required where a credit or debit note changes the tax credit claimed by a purchaser for Delhi sales/purchases; purchasers must adjust ITC in the period the note is issued. Credit notes arising from post sale discounts, returns, rate/quantity variation, consideration for facilities, or expense reimbursements trigger purchaser ITC reduction; cash discounts for early payment are excluded from output tax adjustment and need not be reported or lead to ITC reversal. Circulars VAT - Delhi Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52714